Earnings Season, Market Comments
Earnings season has begun, but even though there are many good reports, it seems like nothing can overcome the worldwide bad news and commentary.
- Energy stocks are down. It is probably a good time to buy into bargains, but who knows?
- Housing starts are in the news, but I can't get a handle on the commentary. It is strange. Is it good or bad. On a TV show that is notorious for bad news, they couldn't seem to frame it properly.
- One guy said—trying to use a metaphor—that the situation coming out of China is confusing. His example: CDOs from the 2008 worldwide financial crisis (I say, made up crisis) is like China today. CDO is a Collateral Debt Obligation. See, right there that conjures up some bad reminders. His point was that what is going on and what is coming out of China is like a CDO. You never know what you get.
- Last December Chinese authorities link their currency to a basket of currencies. Not the American dollar, exclusively. A basket? Hmmmm. No wonder the uncertainty. And anytime a Communist regime makes such moves, it's probably good to get out of the way and let the market find its own level. Talk about proverbial "Falling Piano." Maybe a better comparison is a plate of Mugu Gai Pan that has fallen on the floor. The food is still good . . . but who want s to try it? Okay, how do you spell Moo Gu Gai Pan?
- We'll be looking for specific opportunites, but we're not excited to play just anything.
- I went to see Benghazi. I know it's called 13 Hours. But Benghazi signifies a complete story. It was an awesome movie. It's a complete story as far as it went, but it sure didn't get to the truth about the politics behind it. I wish we could make Ms Hillary watch this movie everyday for the rest of her life.
That's it for now. Check out SVU and CHK today.